While most home buyers are eager to complete the transaction side of things and move on to the fun part–moving in and decorating your new home–getting to that part of the process requires both parties to enter into escrow. If your real estate agent (or perhaps your mortgage lender) has announced that you are now "in escrow", the lingo probably sounded like gibberish but essentially amounts to this–a neutral third-party entity has been contracted to protect both parties in handling critical documents or releasing funds related to the purchase of property.
Remember that escrow is a process that cannot be declared complete until both parties satisfy the terms outlined in the instructions. As either the buying or selling party, if you’re called on to select an escrow office, establishing a foundation of credibility is vital to facilitating the escrow process. Perform due diligence by driving by to assure the company is legitimate and verifying if the company is a licensed entity or independent organization (independent organizations are usually less expensive). Finally, experience counts; therefore, check with the real estate brokerage or the bank to confirm a long-standing, positive relationship with the escrow company.
Brighton Escrow, a full-service, independent entity, has served the South Bay (California) area since 1971. Contact their Hermosa Beach office today for professional and friendly service.
